Britain recorded a bigger-than-expected budget deficit of 21.53 billion pounds ($26.87 billion) in March, official data showed, capping off the fourth-highest borrowing for a financial year since records started in 1946. | Reuters
A new assessment of the value of student loans was a big factor behind a cut in estimated borrowing of 14.6 billion pounds over the 11 months to February, the ONS said.
The full-year estimate for 2022/23 borrowing did not represent final data and would be revised in the months ahead. “These numbers reflect the inevitable consequences of borrowing eye-watering sums to help families and businesses through a pandemic and Putin’s energy crisis,” finance minister Jeremy Hunt said.
An ONS official said the government’s total energy bill subsidies cost 8 billion pounds in March, taking the six-month total cost to 41.2 billion pounds. INQUIRER.net wants to hear from you! Take part in our reader survey and help us be better. Click on this image to answer.Subscribe to our daily newsletter
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